Will governments ban Bitcoin like they did with Gold? - page 5.

Ibrahim60

full member

Activity: 1176

Merit: 100

The OGz Club

Quote from: Abiky on April 09, 2021, 03:42:15 PM

Many people have been talking about a full government ban towards Bitcoin. Some said that Bitcoin could be banned the same way Gold was banned a couple of years ago. This is to prevent people from using Bitcoin and other cryptocurrencies on top of Fiat. After all, governments want to control people's money. Something that's decentralized and outside the reach of the government, should be banned from the face of the Earth (according to governments' mindset).

What do you think? Will governments (especially the US government) ban Bitcoin like they did with Gold? Or is it too late to do something about it? Will Bitcoin survive if all governments unanimously agree to ban its usage worldwide? Your input will be greatly appreciated. Thank you very much.

Bitcoin is virtual coin. This is so much potential coin in the present time. For this reason day by day its popularity going to increase. Because of its decentralization, no government can control its. No one can trace it transaction history. For this reason money laundering happening in all over the world. So many criminal use bitcoin for making crime. By thinking all of this government can ban bitcoin. But i think, Not all governments in the world can ban bitcoin together. Because the opinions and thoughts of people are different. Not everyones opinion will fit perfectly in a time. But somehow all the government will ban bitcoin together then Bitcoin's survival will be difficult.

macson

full member

Activity: 1148

Merit: 151

Hire Bitcointalk Camp. Manager @ r7promotions.com

Quote from: Zemomtum on April 10, 2021, 06:29:13 PM

The only possibility to that is for the Government to shut down the internet first, otherwise, it will not be possible on this present planet.

if the government "shuts down the internet" how will they track our movements "lol"

Bitcoin is something that can no longer be managed and even eliminated. Bitcoin has officially become a decentralized asset since Satoshi officially made it public. only God can "shut down" Bitcoin.

decodx

hero member

Activity: 1456

Merit: 940

🇺🇦 Glory to Ukraine!

Quote from: CryptopreneurBrainboss on April 10, 2021, 06:15:54 PM

Quote from: BIT-BENDER on April 10, 2021, 01:06:03 PM

Are you a US citizen? And if yes why centralize the ban, why not make it known where the ban you think that it can happen, US isn't the whole world you know, but even at that I don't think with the adoption greater than it was in past, that the ban on bitcoin would materialize,

While US isn't the whole world, let's not forget they're a world power and what ever they do has a major impact on that section of the global economy. If the US government was to successfully ban bitcoin (which is quite impossible) the rest of the whole would follow suit especially those nation that has a strong relationship with the US government or rely on them for aid).

US has to be used as the references point because among all current government if there was a government we should be more concerned about is the Biden government. He's anti-bitcoin and sooner or later this will begin to reveal itself.

Personally, I am very disappointed with the government's approach to bitcoin; they need to get with the program or face serious consequences. Perhaps it is the regulation that causes the problem, but in any case the simple fact is that US is falling behind in this crypto market and the only way forward is to innovate and be the leader.
I believe that the US is far behind other countries in this market and that American businesses have the right to adopt a crypto policy, formulate their approach and help regulate this exciting new market.

cabron

hero member

Activity: 2800

Merit: 595

https://www.betcoin.ag

Quote from: Cling18 on April 10, 2021, 08:27:50 PM

As for me, it will be hard for the government to ban Bitcoin since it's beneficial to most users as well as the government through the tax that they're taking. It will be hard for the government to control Bitcoin because of its decentralization. More people wouldn't agree to ban it because it's giving us lots of opportunities as well.

A slight possibility actually if they could to make it only for the underground. Paypal, Visa, and Mastercard had integrated BTC on their platform because they too are afraid of losing relevance to the card users because of CBDC. The cash could totally be eradicated by the government when their CBDC is up and running as well and we have seen this materialized in China already.

In the stock market, the gold has risen gradually which if this will continue the people who had no gold could turn poorer. But yes even if they ban BTC, it will exist no matter what.

Cling18

full member

Activity: 1708

Merit: 126

As for me, it will be hard for the government to ban Bitcoin since it's beneficial to most users as well as the government through the tax that they're taking. It will be hard for the government to control Bitcoin because of its decentralization. More people wouldn't agree to ban it because it's giving us lots of opportunities as well.

Shasha80

sr. member

Activity: 1876

Merit: 318

I believe it is too late if the government wants to ban Bitcoin, because now Bitcoin is trusted by many institutions. This means that it is very difficult
to stop people from using Bitcoin, even in some countries that have banned Bitcoin, people can still use Bitcoin. Because as long as there is
an internet network, everyone can use Bitcoin. So it is useless in my opinion if the government intends to ban Bitcoin.

Zemomtum

full member

Activity: 1316

Merit: 104

CitizenFinance.io

The only possibility to that is for the Government to shut down the internet first, otherwise, it will not be possible on this present planet.

CryptopreneurBrainboss

legendary

Activity: 2450

Merit: 4295

eXch.cx - Automatic crypto Swap Exchange.

Quote from: BIT-BENDER on April 10, 2021, 01:06:03 PM

Are you a US citizen? And if yes why centralize the ban, why not make it known where the ban you think that it can happen, US isn't the whole world you know, but even at that I don't think with the adoption greater than it was in past, that the ban on bitcoin would materialize,

While US isn't the whole world, let's not forget they're a world power and what ever they do has a major impact on that section of the global economy. If the US government was to successfully ban bitcoin (which is quite impossible) the rest of the whole would follow suit especially those nation that has a strong relationship with the US government or rely on them for aid).

US has to be used as the references point because among all current government if there was a government we should be more concerned about is the Biden government. He's anti-bitcoin and sooner or later this will begin to reveal itself.

Hypnosis00

sr. member

Activity: 2436

Merit: 343

How that they feel have no freedom?

If they are doing this, then they are lying about saying that they will help the people. That will be the biggest mistake that the government had made.
But that was illusional, I know that they can't afford to do it unless if they can afford to lose their integrity just for money, just for promoting fiat instead of accepting the new system which I think is more usable this time.

xZork

hero member

Activity: 1249

Merit: 506

Governments will not ban cryptocurrency but it is still too far away before they accept it.
Although there are many governments around the world that have a better outlook on bitcoin and cryptocurrencies, they are still quite wary of it.
This is perfectly understandable, governments do not like a currency they have no control over. So I think it will be a long time before governments adopt cryptocurrency as a currency.

Sophiya

member

Activity: 147

Merit: 27

I, like many people here, are of the opinion that this is impossible. A lot of money is already involved in cryptocurrency, and banning Bitcoin is not beneficial for the government itself. Why spit in the well from which you drink

J1mb0

hero member

Activity: 983

Merit: 502

Quote from: dimonstration on April 10, 2021, 03:04:22 PM

Quote from: J1mb0 on April 10, 2021, 02:57:43 PM

I think that governments around the world will not ban Bitcoin and cryptocurrencies. If a government bans cryptocurrencies, people can still exchange at an exchange in another country.
Ideally they should come up with policies to regulate cryptocurrency and collect taxes from it, this is probably the best choice available today.

Some countries already getting taxes from cryptocurrencies its just a matter of time that Bitcointalk or any cryptocurrency will be adopted and useful to many banning it is inappropriate now knowing that before there are many countries who bans it yet still uses them. Just a good Laws and implementation can make crypto much more useful in a country than their fiat.

The majority of countries in the world only prohibit the use of cryptocurrency as a currency, they do not prohibit people from using bitcoin as an asset.
This is probably a wise decision, with such policies they still keep their finances safe while still earning huge tax amounts.

ene1980

hero member

Activity: 2002

Merit: 535

Quote from: The Cryptovator on April 10, 2021, 12:25:17 PM

A government would just announce that Bitcoin is a ban, but really they couldn't prevent citizens from using Bitcoin. There are no physical coins and the government wouldn't detect who is using Bitcoin if you don't use any centralized wallet or exchange. So I think it's too late to ban Bitcoin. Banning Bitcoin would affect Bitcoin price for some time. But couldn't prevent it while using.

Even i am not sure when gold was banned but if a government wants to ban bitcoin, they cannot ban the bitcoin transactions but they can put an end to the exchanges functioning in that country and that can create enough problems for a while until the users find an alternative and if the market becomes legal then all these exchanges will be forced to comply by it and we are yet to know whether these exchanges will allow if a country ask them to ban users from a certain region to trade on their platform.

dimonstration

hero member

Activity: 2716

Merit: 698

Dimon69

Quote from: J1mb0 on April 10, 2021, 02:57:43 PM

I think that governments around the world will not ban Bitcoin and cryptocurrencies. If a government bans cryptocurrencies, people can still exchange at an exchange in another country.
Ideally they should come up with policies to regulate cryptocurrency and collect taxes from it, this is probably the best choice available today.

Some countries already getting taxes from cryptocurrencies its just a matter of time that Bitcointalk or any cryptocurrency will be adopted and useful to many banning it is inappropriate now knowing that before there are many countries who bans it yet still uses them. Just a good Laws and implementation can make crypto much more useful in a country than their fiat.

J1mb0

hero member

Activity: 983

Merit: 502

I think that governments around the world will not ban Bitcoin and cryptocurrencies. If a government bans cryptocurrencies, people can still exchange at an exchange in another country.
Ideally they should come up with policies to regulate cryptocurrency and collect taxes from it, this is probably the best choice available today.

tabas

hero member

Activity: 3024

Merit: 745

Top Crypto Casino

Quote from: Hippocrypto on April 09, 2021, 06:33:03 PM

Quote from: tabas on April 09, 2021, 06:02:55 PM

Banning it will lose them billions if they're going to consider their citizens that have been transacting and transferring funds through bitcoin. They're losing lots of money if they're about to that. But even if they do, transactions can still continue and many wouldn't care if there's a ban just as what the other countries did, there are still crypto people that are continuing.

Banning in a certain country would be implemented once there's a conflict of interest. Some of the law makers would decide this kind of judgement toward bitcoin, and no one can ban Bitcoin because it continues to run without control of anybody. Government is intimidated with what bitcoin shows to the world, specially todays time that price soars unexpectedly. But to those developing countries, I think it wouldn't be be because they're now shifting to cashless payment using digital currency.

Yes, they can't ban Bitcoin itself because it will just keep going through miners and transactions that are scattered in every part of the world.
But the thing about the government banning bitcoin is those transactions that would come to their citizens and prohibiting them to trade or doing any transaction related to it while they're residing in that country that has banned bitcoin.

ChiBitCTy

legendary

Activity: 2282

Merit: 3014

The US took away peoples gold bullion and coins back in the 1930's do to the World Wars, it wasn't because they were using it instead of fiat currency. If they ever tried to do this again today, it would absolutely never happen. The fact that they would have no shot at taking our gold would be they have even less of a chance being able to ban bitcoin..even if they do, that's what we have Over the Counter for and decentralized exchanges.

acdc

sr. member

Activity: 939

Merit: 256

I think they won't ban Bitcoin. In my country bitcoin is and cryptocurrency is seen as an asset, people can freely buy and sell cryptocurrencies as long as they pay taxes in full.

peterpanda

full member

Activity: 562

Merit: 100

That's why it is not possible to control as bitcoin is a decentralized crypto. People are free to use bitcoin as their sweet well. We have to move forward with digital decentralized currency. As bitcoin is decentralized currency, it is not possible for governments to ban it.

BIT-BENDER

hero member

Activity: 1666

Merit: 709

Playbet.io - Crypto Casino and Sportsbook

Quote from: Abiky on April 09, 2021, 03:42:15 PM

What do you think? Will governments (especially the US government) ban Bitcoin like they did with Gold? Or is it too late to do something about it? Will Bitcoin survive if all governments unanimously agree to ban its usage worldwide? Your input will be greatly appreciated. Thank you very much.

Are you a US citizen? And if yes why centralize the ban, why not make it known where the ban you think that it can happen, US isn't the whole world you know, but even at that I don't think with the adoption greater than it was in past, that the ban on bitcoin would materialize, I don't support the saying that the wealthy once -elon musk- for example gave bitcoin all the boost it has had recently but I think the wealth game would play out in Bitcoin favour bin the US.

Topic: Will governments ban Bitcoin like they did with Gold? - page 5. (Read 1177 times)